There are several laws and by-laws, which regulate issues related to management of the state property. Among them are laws “On denationalization and privatization”, “On bankruptcy”, “On joint stock companies and protection of right of shareholders” and “On limited liability companies”. There are also resolutions of the government and president.

At the same time, there are need to improve legislation related to state property as currently laws do not regulate relation in this area.

Currently, the draft law “On management of the state property” is under development to ensure further deepening democratic market reforms and liberalizing economy management, as well as stimulating and strengthening entrepreneurship activity.

The committee added that the development and adoption of the law will create necessary conditions for further social-economic development of Uzbekistan and it will cover all actual issues related to owning and using state property.

The law is directed at constructing system of management of state property from its acquiring till abolishment of ownership rights.

The law will also clearly separate state property to republican and national, separate competence of state bodies, increase their responsibility in sphere of management of state property.